Media Industry
Industry: Email Alert RSS FeedMetro-Goldwyn-Mayer Inc. officially went on the auction block.(Brief Article)
Broadcasting & Cable, March, 1996
Metro-Goldwy-Mayar Inc. officially want on the auction block last week after the investment bank Lazard Freres & Co. advised its owner, a holding company of the French bank Credit Lyonnais, that the time is ripe to sell the studio. In addition to production and distribution assets, MGM owns the United Artists movie and TV library and a 4,500-title home video library.
The studio, which has reversed its sagging fortunes with recent theatrical hits and the revival of TV's The Outer Limits, is expected to bring more than $2 billion. Potential suitors are said to include GE, PolyGram and the Wait Disney Co.
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